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Financial Effects of Fiscal Transparency: A Critique

Author

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  • Anton Gerunov

    (Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski)

Abstract

This paper investigates the effects of budget transparency on fiscal performance. It fits a panel regression model on data from the Open Budget Index through its five rounds (OBI 2006-OBI 2015) and investigates the effect of openness on budget balance, primary balance and government debt across a sample of 57 countries. We seek to validate the proposed positive effect of fiscal transparency on objective performance indicators. Main results show that the link between openness and budget balance is relatively weak, while the effect of OBI on debt is more robust. This effect is also differentiated, with the lowest and highest-income countries benefitting most from openness.

Suggested Citation

  • Anton Gerunov, 2016. "Financial Effects of Fiscal Transparency: A Critique," Bulgarian Economic Papers bep-2016-01, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Jan 2016.
    • Handle: RePEc:sko:wpaper:bep-2016-01
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    File URL: https://www.uni-sofia.bg/index.php/eng/content/download/150778/1088221/file/BEP-2016-01.pdf
    File Function: First version, 2016
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    Citations

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    Cited by:

    1. Bronić Mihaela & Stanić Branko & Prijaković Simona, 2022. "The Effects of Budget Transparency on the Budget Balances and Expenditures of Croatian Local Governments," South East European Journal of Economics and Business, Sciendo, vol. 17(1), pages 111-124, June.
    2. Mourão Paulo Reis & Bronić Mihaela & Stanić Branko, 2023. "The Impact of Local Governments’ Budget Transparency on Debt in Croatia," South East European Journal of Economics and Business, Sciendo, vol. 18(2), pages 21-33, December.

    More about this item

    Keywords

    budget; transparency; fiscal openness; deficit; debt;
    All these keywords.

    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus

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